L-R: Managing Director, Shell Petroleum Development Company and Country Chair Shell Companies in Nigeria, Mr. Osagie Okunbor; Secretary General, Organisation of Petroleum Exporting Countries, Mr. Muhammad Barkindo; and the Minister of State, Mr. Ibe Kachikwu, at the ongoing Nigeria Oil and Gas Conference and Exhibition in Abuja… on Tuesday.

By Paul Carsten

Warri (Reuters) – Shell is considering whether to invest in a gas project in Nigeria’s southern Niger Delta energy hub, the managing director of the local unit said on Tuesday.

Nigeria has the world’s ninth largest proven gas reserves, at 187 trillion cubic feet (tcf).

Osagie Okunbor, managing director of Shell Petroleum Development Company of Nigeria (SPDC), said it was “on the verge of making a final investment decision” on a project in the city of Asa that would have a capacity of 300 million cubic feet.

He declined to specify the sum of money being considered as a possible investment.

Okunbor told journalists Shell was putting more emphasis on gas and reducing the oil portion of its footprint in Nigeria, although he added that the company was “still a significant player in onshore (oil)”.

(Writing by Alexis Akwagyiram; editing by Susan Fenton and David Evans)

READ  Investors start taking notice of Nigeria's latest currency plan

Your comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.